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for that kind of product. we think there's significant growth opportunities there. >> how as technology enabled new things in your business? i think the marriage of technology and health care has been so exciting. >> yeah. well, innovation is what we're all about and technology. it really starts with us being able to better target compounds and pharmaceuticals. in all areas now. we talk a lot about personalized medicine. i think we're making great strides. it's difficult science. we still have a lot of work to do. our ability to better detect who's going to respond to a particular therapy for the clinical development process has improved dramatically. that's why we're starting to see products through earlier. the other area i'm excited about is convergent technologies. how do you take a device along with a pharmaceutical product, which johnson & johnson is perfectly suited to do, and really transform the way patients are treated? that's another exciting -- >> also transformative what you're doing in oncology. talk to us about the products in the pipeline in terms of oncology. where are we in th
high. the average technology stock, 11% from its 52-week high, if we get another 3% to 5% down in stocks, then i think that cash on the sidelines should be absolutely put to work, because the next two or three years still bodes quite well for the stock market relative to most other asset classes. >> i may have to break in momentarily when those american express earnings come out. but first, jerry webben, let me ask you, the fear has been this week with news out of china, some of the economic data that we've gotten here, that maybe the global growth rate is slowing down. do you sense that at all? >> i think, yes, both in the u.s. and in china, we've seen some slowness in the emerging markets and europe remains extremely weak, but you've got to look at those growth areas in the u.s. with, that include auto sales remain strong, housing sector remains strong, personal consumption is not great, but it's okay, employment is better. >> all right, guys, let me break in. here we go. so they were expecting on american express $1.12, they got $1.15. so a beat, apparently, by 3 cents. the
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